CUSTOMER S D

Mangalore Universit ! in " &a'$elor o# &usi

)*A

INTRODUCTION TO CUSTOMER SATISFACTION

Whether the buyer is satisfied after purchase depend on the offers performance in relation to the buyer expectation. In general satisfaction is a person's feelings of pleasure or disappointment resulting from comparing a products perceived performance relation to his/her expectations. If the performance falls short of expectation, the customer is dissatisfied. If the performance matches the expectation customer is satisfied. If the performance exceeds the expectation the customer is .highly satisfied Customer satisfaction cannot be very difficult. After all you either satisfied ith the services you receive or you are not. If you don!t you are not. If it is that easy, then obtaining people's opinion about ho satisfied they are ith relatively straight for ard matter" or is it#. Customer satisfaction is a mar$eting tool and a definite value addad benefit. It is often perceived by customers as important as the primary product .or service your organisation offers It loo$s at hat is involved from % different angles, the first is from the vie of an organisation ishing to understand, and measures, ho satisfied its customer are ith the products and services they receive from it. &he second is from the perspective of a research agency that has been as$ed to obtain feedbac$ from customers and about their experiences hen dealing ith companies. 'inally it considers the issue from the perspective of consumers ho participate in surveys, including both business customers and members of general public

MEANIN3 OF CUSTOMER SATISFICATION

Customer satisfaction is a business term, is a measure of ho products and services supplied by a company meet or surpass customer expectation. It is seen as a $ey performance indicator ithin business and part of the four prospective of balanced .score card I( a competitive mar$et place ere businesses compete for customers, customer satisfaction is seen as a $ey differentiator and increasingly has become a $ey element of business strategy customer satisfaction drives successful private sector business. )igh performing businesses have developed principles and strategies for achieving customer satisfaction. &his paper presents a frame or$ or set of ideas for using customer satisfaction principles and strategies to improve the *uality responsiveness, and possibility of public sector privately provided services in vulnerable communities. &he frame or$ suggested that resident ho live in tough neighbourhoods can be supported through customer satisfaction strategies to become empo ered individuals

ho informed perspectives influence decisions about hat, ho , hen, and here .services are available to them Customer satisfaction is the customers response to the evaluation of the perceived discrepancy bet een prior expectation and the actual performance of the product as .perceived after its consumption

DEFINITION
Codotte, oodruff and +en$ins ,-./01 define customer satisfaction as 2conceptuali3ed 2.as a feeling developed from an evaluation of the experience .)454, the timing of satisfaction response is driving consumption 67& there is general agreement ith $otler ,899%1 that 2customer satisfaction is a person's feeling of pleasure or disappointment resulting from comparing a products 2.perceived performance in relation to his or her expectation In short customer satisfaction is 2&he provision of goods or services hich fulfil the 2.customer expectation in terms of *uality and service, in relation to price paid

IM5ORTANCE OF CUSTOMER SATISFACTION I& costs atleast 0 times more to source a ne customer than it does to retain existing one A 'satisfied' customer tells :"0 people in a year hilst a 'dissatisfied' customer ill tell .-;"-: people Companies can boost profits any here from 8:< to -8:< by retaining a mere :< .more of their exciting customers &otally satisfied customers ere = times more li$ely to use that services and .commend it than ' satisfied' customers Customers ho have a bad experience ith you and do not complain are only %0< .li$ely to still do business ith you Customers ho have an opportunity to complain and the complaint is achieved are ..:< li$ely to still do business ith you

Fa'tors o# 'ustomer satis#a'tion serviceof *uality reliability of service $no ledge of the staff 6eing $ept informed of progress &he ay service $ept its promises &he ay the service handled any problem 'riendliness of staff )o sympathetic staff ere to your needs >peed of en*uiries .(umber of time had to contact the service

Measuring 'ustomer satis#a'tion ?rgani3ations are increasingly interested in retaining existing customers hile targeting non"customers@ measuring customer satisfaction provides an indication ho successful is the organisation at providing products and/or services to the mar$et .place Customer satisfied is an ambiguous and abstract concept and the actual manifestation of the state of satisfaction ill vary from person to person and product/service to product/service. &he state of satisfaction depends on a number of both psychological and physical variables hich correlate ith satisfaction behaviours such as return and recommend rate. &he level of satisfaction can also vary depending on other options .the customer can compare the organi3ations products 6ecause satisfaction is basically a psychological state, care should be ta$en in effort of *uantitative measurement, although a large *uantity developed. Wor$ done by berry ,bart allen1 and brode r bet een -..9 and -../ defined ten '*uantity values' hich influence satisfaction behaviour, further expanded by berry in .8998 and $no n as the ten domains of satisfaction &he usual measures of customer satisfaction involve a survey ith a set of statements using a li$ert techni*ue or scale. &he customer is as$ed to evaluate each statement and in term of their perception and exceptation of performance of the .organi3ation being measured

&he university of michigan's American consumer satisfaction is a scientific standard of consumer satisfaction academic research has sho n that the national AC>I score is a strong predictor of gross domestic product gro th, and an even stronger predictor of personal consumption expenditure ,AC41 gro th. ?n the micro economic level, research has sho n that AC>I data predicts stoc$ mar$et performance, both for mar$et indices and for individually traded companies. Increasing AC>I scores has been sho n to predict loyalty, ord of mouth recommendations and purchase behaviour. &he AC>I measures consume satisfaction annually for more than 899 companies in ;% industries and -9 economic sector. In .addition to *uarterly reports, the AC>I Bethodology can be applied to private sector companies and government agencies in .order to improve loyalty and purchase intent &he net promoter score is a management tool that can be used to guage the loyalty of a firms consumer relationships. It serves as an alternative to traditional consumer a single *uestion ,usually, 2ho li$ely is it that you ould recommend us to a friend or colleague#21 based on their responses, consumers can be categori3ed into one of % groups, promoters, passives and detractors. In the net promoters are vie ed as valuable assets that drive profitable gro th because of their repeat/increased purchases, longevity and referrals, hile detractors are seen as liabilities that destroy profitable gro th because of their complaints, reduced purchases/defection and .negative ord of mouth &he $ano model is a theory of product development and consumer satisfaction developed in the -./9's by professor noria$i $ano that classifies consumer preferences into : categoriesC attractive, one Ddimensional, must be indifferent, reverse. &he $ano model offers some insight into the product attributes hich are perceived to be important to consumers. $ano also produced a methodology for .mapping consumers responses to *uestionnaires onto his model ?ne of the ne est and most innovative consumer satisfaction measurement methodologies is called gustometria. Eustometria is real time measurement of consumer and employee satisfaction, consumers are invited to ans er a short survey by touching the 2gustometer2 screen ith their fingers. &he responses are collected immediately by gustometria serves hich tabulate the results in real time. Banagement can then log into their private ebsite and use the sophisticated .business intelligence reports hich are built into the gustometria system

)I>&?5F ?' GIAB?(G> &)4 name diamond is derived from ancient gree$ ada a ,a'damas1, 2people2, .22unalterable2, 2unbrea$able2,2 untamed

Giamonds are thought to have been first recognised and mined in india, ere significant alluvial deposits of stone could be found many centuries ago along the rivers penner, Hrishna,and Eodavari. Giamonds have been $no n in india for .atleast %999 years ago but mostly li$ely =999 years Giamonds have been treasured as gemstones since their use at religious icons in ancient india. &heir usage in engraving tools also dates to early human history. &he popularity of diamonds has been risen since -.th century because of increased supply improved cutting and polishing techni*ues, gro th in the orld economy, and innovative and successful campaign. In -008 antonine lavoisiee used a lens to concentrate the rays of the on a diamond in an atmosphere of oxygen and sho ed that the only product of combustion as carbon dioxide providing that diamonds is composed of carbon. Iater in -0.0, >mithson tennat repeated and expanded that experiment by demonstrating the burning diamond and graphite ,charcoal1 releases .the same amount of gas he established the chemical e*uivalence of these substances Giamond is the hardest natural material $no n , here hardness is defined as resistance to scratching and is graded bet een ,softest1 and -9 ,hardest1 using the mobs scale of mineral hardness. Giamond has a hardness of -9 ,hardest1 on this scale. Giamond's hardness has been $no n since anti*uity, and is the source of its name. Giamond's hardness depends on its purity, crystalline perfection and orientation. &herefore hereas it might be possible to scratch some diamonds ith other materials, such as boron nitride, the hardest diamonds can be only scratched by other diamonds. In particular, nano crystalline diamond aggregrates ere measured to be harder than any large crystal diamond. &hose aggregrate are produced by high .pressure high temperature treatment of graphite &he hardest natural diamonds originated mostly from the copetion and bingara fields located in the ne 4ngland area in ne south ales Australia. &hese .diamonds are generally small, perfect and are used to polish other diamonds Identification Giamonds can be identified by their huge thermal conductivity. &heir high refractive index is also indicative, but other materials have similar refractivity. Giamonds cut glass, but this does not positively indentify a diamonds because other materials such as *uart3, also lie above glass on the mohs scale and can also cut it. Giamonds can .scratch other diamonds but this can result in damage to one or both stones

A5?G7C&I?( Approximately -%9 million carats of diamonds are mined annually ith a total value .of nearly 7>J billion and about -99999$g are synthesi3ed animally 5oughly ;.< of diamond originate from central and southern Africa ,although significant source of the mineral have been discovered Canada , India, 5ussia, 6ra3il,

and Austria's they are mined from $imberlitic and lamtroite volcanic pipes , hich can bring diamond crystals , originate from deep ithin the earth here high pressure and temperature enable then to form , to the surface . the diamond supply is controlled by a limited number of po erful business and is also highly concentrated in a small number of location around the orld ,

Company profile

KA sterling legacyKthe finest diamondsKexclusive creations &hat!s orra D the diamond destinationL A spar$ born in -/// as carried for over a century to metamorphose into orra. 'rom sculpting and manufacturing diamonds to crafting and retailing the finest diamond Me ellery, orra has come .a long ay since its inception ?rra D the diamond destination is india!s largest and only exclusive diamond Me ellery retail chain. It is a part of the rosyblue group D the orld!s largest diamond manufacturing company ith a presence across -: countries head*uartered in ant erp, belgium , .rosyblue.com1. &he group is among the largest sight holders and india's largest diamond and platinum retailer. .&oday, - in every 8: diamonds in value terms is a rosyblue diamond >et in an international format, orra retails through %: exclusive high street bouti*ues in 8% cities across india. &hese bouti*ues have today become the ultimate destination for the choicest diamonds in the country. Within t o years of its launch, orra as counted among the top : Me ellery brands in the country. In 8990, it earned the prestigious distinction of being voted as the ONbest Me ellery retail chain of the year

6an$ing on the rich diamond heritage orra offers the finest diamonds set in artistically inspired designs. 6e it a perfectly sculpted solitaire or a classic handcrafted nec$piece, at orra, there is a diamond for every occasion. Gefine a diamond's si3e, shape or colour and orra ill ma$e your dream come trueL ?rra diamonds are etched out by artisans ho have inherited the 099"year"old legacy of the belgian master craftsmen, the inventors of diamond sculpting. Giscover the
Lluminous drops of mysti*ue all the

ay from belgium

?55A, part of the 5osyblue Eroup, is the only Me elry company in India hich has tie"ups ith the three leading Me elry organi3ations namely, G&C ,Ge 6eers1, AEI ,Alatinum Euild India1 P WEC ,World Eold .,Council (ame a si3e, define a shape, state the color and ?55A ill have a diamond to ma$e your dream come true. We can proudly claim that - in .every 8: diamonds is a 5osy 6lue diamond &he company has come a long ay from sculpting diamonds to crafting the finest diamond Me elry. A legacy that has spanned centuries, over helming the orld ith its brilliance can be summed up as ?55A. A ord that epitomi3es the person it as created for " her spirit, her grace and the invisible glo that surrounds her. At ?55A, diamonds are .sculpted to be as special as the person ho buys it >et in the international store format, ?55A has %% exclusive diamond bouti*ues across India. &he ?55A color logo dra s strengths from our foundation. A sterling legacy@ >uperior diamonds@ uni*ue product .offerings With the launch of ?55A, the focus on building inheritance revolved around our international lineage and centuries of presence. &hese ere made relevant to the consumer by stressing on their ramification in terms of product focus. We have attempted to differentiate our product offerings and create ne product concepts. Whilst the overall positioning is of a serious diamond player, the aim is to entice consumers through product offerings tailor"made to their re*uirements. 4xamples of these innovative :and differentiated products

OTitle o# t$e stud

C2CUSTOMER SATISFACTION ON ORRA DIAMONDS

T "e o# t$e resear'$ &he type of the research done here is of descriptive in nature. &he data is collected .and presented as it is by means of survey collected ?bMective of the study CArimary obMective '&o analy3e the customer satisfaction of 'orra diamonds C>econdary obMective &o ma$e assessment of the consumers acceptance and the determinants of their ,purchase decision ,survey of customer through *uestionnaire .&o study the attitude of customers to ards the facilities provided at the center >cope of the study .&his study helps in understanding ho satisfied the customers are ith orra diamonds .&his study also helps in $no ing hich of the diamonds type are preferred &he other scopes being it enables us to $no the *uality of diamonds and service .provided

5esearch methodology .Sam"le si;eC &he study is done by collecting data from a sample si3e of :9 customers Sam"ling met$od- &his study is used random sampling method Sour'es o# data 'olle'tion met$odC &he study is done by collecting primary data as . ell as secondary data .A "rimar data- It is collected by supplying *uestionnaire to the customers &( se'ondar dataC I& is collected from various other sources such as ebsites, boo$s related to customer satisfaction and officials of orra. A sample si3e of :9 .customers o ning to 'orra' has been selected for the study

Iimitations of the study &he study is confined only to the customers of mangalore city .&he study is limited only to :9 ?55A customers only &he conclusion arrive at are my limited $no ledge and data that as at my disposal .Iac$ to time to get more specific information is another reason

2( A3E TA&+E 2 Criteria 0. 718 18 7<8 <8 788 88 and above Total
'rom the table and chart :.-it is evident that =9< of customer satisfied are bet een the age 89"%: and -/< are bet een the age %:";: and -8< are bet een the age group ;:":: and -9< are bet een the age group :: and above. so it is observed that maMority of customer satisfied are bet een the age 89"%: D TA&+E

Nu

30 9 6 5

8.

3RA5* 7 2

.3ENDER0.1

Criteria Male Female Total

Number o# res"ondents 30 20 50

5er'entage 60% 40% 100%

3RA5*70

'rom the table and chart no :.8 it is evident that =9< customer satisfied are male and ;9< are female. >o it is observed that maMority of customer satisfied are male

TA&+E 1 MARTIA+ STATUS .%

Criteria Single

Number o# res"ondents 26

5er'entage 52%

Married Total

24 :9

48% -99<

3RA5* 71

'rom the table and graph no :.% it is evident that :8< customer satisfied are single, (and ;/< are married. >o it is clear that more number of customer satisfied are single

TA&+E > < ?UA+IFICATION .; Criteria 3raduate 5ost graduate Ot$er Total Number o# res"ondents 25 15 10 :9 5er'entage 50% 30% 20% -99<

3RA5* 7<

'rom the table and chart no :.; it is evident that :9< respondents of orra diamonds are graduate, and %9< are post graduate and other are -9< .so it is clear that maMority of respondents are graduate

7 TA&+E 8 ANNUA+ INCOME

Criteria -99999"899999 899999";99999 ;99999"=99999 and above"=99999 Total

Number o# res"ondents 15 17 8 10 :9

5er'entage 30% 34% 16% 20% -99<

3RA5* 78

'rom the table and graph :.: it is evident that respondents annual income from -99999"899999 are %9< and 899999" ;99999 are %;< and ;99999"=99999 are -=< and =99999 and above are 89<. >o it is clear that maMority no of respondents have .annual income of 899999 D ;99999

Table 7/ A@ARE OF ORRA DIAMOND Criteria Number o# res"ondents 5er'entage

,es No Total

45 5 8.

90% 10% 2..=

3ra"$ 7/

'rom the table and graph :.= it is evident that .9< of respondents are a are of orra diamonds and -9< are not a are . so it is clear that maMority of respondents are a are of orra diamonds

Table 79 )NO@N A&OUT ORRA DIAMOND Criteria 5ubli'it Ne6s"a"ers Television Radio Famil and #riends &anners Number o# res"ondents 14 4 3 2 10 10 5er'entage 28% 8% 6% 4% 20% 20%

5osters Total

7 8.

14% 2..=

'rom the table and graph :.0 it is evident that 8/< of respondents came to $no about orra diamonds through publicity , /< through ne spapers,=< through television, ;< through radio, 89< through banners and -;< through posters. >o it is .clear that maMority of customers came to $no about orra diamonds through publicity

Table 7A SER4ICES 5RO4IDED &, ORRA AND ITS COM5ETITORS Criteria ,es No Total Number o# res"ondents 30 20 8. 5er'entage 60% 40% 2..=

3ra"$7 A

'rom the table and graph :./ it is evident that =9< of respondents are satisfied ith services provided by orra than its competitors, and ;9< are not satisfied. >o it is clear .that maMority of respondents are satisfied ith the services than its competitors

Table 7: SATISFIED @IT* OFFERS AND DISCOUNTS Criteria ,es No Total Number o# res"ondents 40 10 8. 5er'entage 80% 20% 2..=

3ra"$ 7:

'rom the table and graph :.. it is evident that /9< are satisfied ith offers and discounts and 89< are not satisfied. >o it is clear that maMority no of respondents are .satisfied ith offers and discounts

Table 72. SATISFIED @IT* 4A+UE OF MONE,

Criteria ,es No Total

Number o# res"ondents 34 16 8.

5er'entage 68% 32% 2..=

3ra"$ 2.

'rom the table :.-9 it is evident that =/< are satisfied ith the value of money, and %8< are not satisfied ith the value of money. >o it is clear that maMority no of .respondents are satisfied ith the value of money

Table 722 @*IC* ,OU 3I4E IM5ORTANCE Criteria ?ualit O##ers 4ariet o# design Servi'e Dis'ounts Number o# res"ondents 20 5 10 10 5 5er'entage 40% 10% 20% 20% 10%

Total

8.

2..=

3ra"$ 722

'rom the table :.-- it is evident that ;9< of respondents give importance to *uality,-9< to offers ,89< to variety of design,89< to service and 89< to discounts. .>o it is clear that maMority of respondents give importance to *uality

Table 720 *O@ TO ASSURE T*E ?UA+IT, OF BE@E+ Criteria ,es No Total Number o# res"ondents 34 16 8. 5er'entage 68% 32% 2..=

3ra"$ 720

'rom the table and chart :.-8 it is evident that =/< of respondents $no to assure the *uality of Me el, and %8< don!t $no to assure the *uality of Me el. >o it is clear that .maMority of respondents $no to assure the *uality of Me el

Table 721 MORE IM5ORTANCE TO ?UA+IT, ASSURANCE IN CASE OF DIAMONDS Criteria ,es Number o# res"ondents 34 Aercentage 68%

No Total

16 8.

32% 2..=

3ra"$ 721

'rom the table and chart :.-%, it is evident that =/< of respondents give more importance to *uality assurance and %8< of respondents don!t give importance. >o it .is clear that maMority of respondents give importance to *uality assurance

Table 2< FIRST IN MIND @*EN ,OU T*IN) A&OUT ORRA Criteria +ogo o# ORRA diamond 5urit o# diamond Number o# res"ondents 10 25 5er'entage 20% 50%

Tagline Total

15 8.

30% 2..=

3RA5* 2<

'rom the table and graph :.-; it is evident that 89< of respondents first thin$ about logo of orra diamonds, :9< about purity of diamond, %9< about tagline. >o it is clear .that maMority of respondents thin$ about purity of diamonds

Table7 28 RATE OF 5RICIN3 FACTOR OF ORRA Criteria EC'ellent Average &elo6 average Total Number o# res"ondents 16 29 5 8. 5er'entage 32% 58% 10% 2..=

3ra"$ 728

'rom the table and chart :.-: it is evident that %8< of respondents felt excellent about the rate of pricing, :/< ere average, -9< ere belo average. >o it is clear .that maMority of respondents are average

Table 2/ SATISFIED @IT* T*E 5RODUCT Criteria ECtremel satis#ied 4er satis#ied Unsatis#ied Total Number o# res"ondents 15 30 5 8. 5er'entage 30% 60% 10% 2..=

3ra"$ 72/

'rom the table :.-= it is evident that %9< of respondents are extremely satisfied ith the product, =9< are very satisfied, -9< are unsatisfied. >o it is clear that maMority of .respondents are Must satisfied ith the product

Table 729 CUSTOMER RE5RESENTATI4E *AND+ED RE?UIREMENT ?UIC)+,

Criteria Strongl agree Agree Neutral Disagree Total

Number o# res"ondent 16 20 10 4 8.

5er'entage 32% 40% 20% 8% 2..=

3ra"$ 729

'rom the table and chart :.-0 it is evident that %8< of respondents strongly agree that their re*uirement as ell hand led by customer representatives *uic$ly, ;9< felt it as confusing, 89< felt it as neutral, /< felt it asn!t confusing. >o it is .clear that re*uirement handled as confusing

Table 72A CUSTOMER RE5RESENTATI4E *AD )NO@+ED3E A&OUT 5RODUCTS Criteria ,es No Total Number o# res"ondents 36 14 8. 5er'entage 72% 28% 2..=

3ra"$ 72A

'rom the table :.-/ it is evident that 08< of respondents are satisfied that customer representatives had good $no ledge about the product, 8/< of respondents are not satisfied. >o it is clear that maMority of customers are satisfied ith the representatives .$no ledge about the the product

Table 2: RECOMMEND ORRA TO OT*ER MAN3A+OREANS

Criteria ,es No Total

Number o# res"ondents 30 20 8.

5er'entage 60% 40% 2..=

3ra"$ 2:

'rom the table:.-. it is evident that =9< of respondents ould recommend to other mangaloreans, and ;9< ould not recommend to other mangaloreans. >o it is clear .that maMority of respondents ould recommend to others

Table 0. SATISFIED @IT* ?UA+IT, OF ORRA

Criteria ,es No Total

Number o# res"ondents 37 13 8.

5er'entage 74% 26% 2..=

3ra"$ 70.

'rom the table and graph :.89 it is evident that 0;< of respondents are satisfied ith the *uality of orra diamonds, 8=< are not satisfied. >o it is clear that maMority of .respondents are satisfied ith the *uality of orra products

Table 702 SATISFIED @IT* AM&IENCE AND DIS5+A, OF ORRA Criteria ,es No Total Number o# res"ondents 34 16 8. 5er'entage 68% 32% 2..=

3ra"$ 702

'rom the table :.8- it is evident that =/< of respondents are satisfied ith the ambience and display of orra diamonds, and %8< are not satisfied ith ambience

and display of orra diamonds. >o it is clear that maMority of respondents are satisfied . ith the products

Table 700 SATISFIED @IT* DESI3NS A4AI+A&+E AT ORRA Criteria ,es No Total Number o# res"ondents 30 20 8. 5er'entage 60% 40% 2..=

3ra"$ 00

'rom the table and chart :.88 it is clear that =9< of respondents are satisfied ith the designs available at orra products, ;9< of respondents are not satisfied. >o it is .clear that maMority of respondents are satisfied ith the designs available at orra

Table 01 @*, ,OU 5REFER ORRA Criteria 3ood %ualit +ess "ri'e as 'om"are to ot$ers +o'ation Number 8= = -9 / :9 ?ther &otal Eraph "8% 5er'entage :8< -8< 89< -=< -99<

'rom the table and chart :.8% it is clear that :8< of respondents prefer good *uality , -8< prefer less price as compare to other, 89< prefer location and -=< prefer other. .>o it is clear that, maMority of respondents prefer good *uality

'I(GI(E> .= It as found that maMority of the customers here in bet een the age group 89"%: It as found from the study that satisfied customers ere more number of male . hen compared to female

.It as that more number of single are satisfied ith the orra products

. It as found that :9< are graduates It as found from the study that

>7EE4>&I?( A(G C?(CI7>I?(.0

.8

AdvertisementsC ?55A can use more aggressive advertising strategies. &hey can ma$e use of local media!s to have a better reach in the society 'inancing facilityC orra can tie up ith some of the maMor financials in the country to provide customers loan facilities 6etter designsC ?55A can provide for a variety of designs to meet the ever gro ing need of the customers >chemesC ?55A can introduce some ne scheme!s to attract customers Customi3ationC ?55A can give customers the choice of customi3ing their Me ellery under the experts from ?55A

Conclusions Customers needs are al ays changing and meeting the same is really tough. )ence ?55A should constantly innovate its design to improve the customer satisfaction. .And try and build up brand loyalty ith its customers ?55A can use the findings, suggestions given in the study in order to maximi3e its mar$et share

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